The Palatka daily news. (Palatka, Fla.) 1884-1888, 1887-06-19
LITTLE TRADE.
WHEAT AND CORN PITS DESERTED
THE PROVISION MARKET DULL
AND UNSETTLED.
Labagh q Co. Fail for about S5o,0oo-Ihe New
Grain Eievator-The American Bank Did
not sequester any OF ker-
shaw's Money.

CHICAGO. June 1Ss-C- d. heiSHsi" "
Co. this morning gave the following
notice: Litigation of various kinds has
interferred with securing the favorable
settlement of our affairs that seemed
practicable. The negotiations are still
pending with a pos ibility of success,
but if not consummated to-day our cred
itors are requested, at $50 o'clock Mon
day. to receive a statement of our affairs
as close as can be estimated up to that
time and for them to take such action
as they see fit. G.. j. KERsHAw & Co.
This notice created no comment
any kind on the market. Wheat was
trifie more buoyant than expected.
Both the wheat and corn pits were al
most deserted to-day and trading in
wheat did not amount to n tenth of its
usual volume. The only transaction to-
day of any note was the purchase OF
400, 900 bushels of July. The effect of
this purchase was to send wheat to its
highest point OF the day. July opened
shnde lower at 124, but after the first
HqrFy,sas oyer it BECAME steady around
7a4. Later en, when the large purchase
mentioned was made, 1t ADVANCED TO 13,
became firm and held SO for the remain
der of the session, closing at 72ac. June
opened at IL and closed at II 1c the highest
;igIiYe of the day. The receipts of wheat
eontinue quite free, freight engagements,
however, were made for $40. 800 bushels
of wheat, and rapid decrease In the
amo,lnt in store is looked for. Corn
opened fifm and higher, owing to the re-
ports of hot and dry weather in the
West. July opeaed at Site and adj
Vanced To 374c@31sc. After the first ef-
feet of the crop score had worn off, corn
eased back little. July closing at 31sc.
The effects of the hot weather report
vns even more marked on oats than ON
corn, and It was said that oats were
looking very bad over quite an extent
of territory. July opened at 26sc and
advanced to e6sc, but later, in sympathy
with the general duilness prevailing in
other markets. reacted 10 26scta 2Stc,
Os~duIl. weak and unsettled feeling
prevailed in the provision market and
trading was light. The receipts of hogs
were moderately free for the closing day
OF the, week. and prospects were favora-
pie for good arrivals at all Western points
during the coming week, Larger deiiv-
cries for August and September, appear
cd to attract the most attention. The
inqulring for shipments was light, and
sales were meegre, as buyers and sellers
were apart in views. July ribs opened
at s7.35, rolled down to 81, % and closed
mt S1,324. July lard opened at $8.424
sold down to sd. 30 and closed at $685..
The firm of r. Fl. I.abagh & Co, Board
of Trade commission merchants, failed
this morning. The firm il quite large
one and the amount of the failure Is
probably between $4,000 and $50, 1000.
The smash is the direct result of the
break of the wheat corner
VIM. L. Baker, in behalf of the Board
of Trade firm Of w. T, Baker & Co., Sc
cured an attachment writ against Chas.
J. Kershaw, Hamilton peWar, G. E.
Mosley and G.. b. Eggleston, composing
the firm of G.. J. Kershaw & Co.. in the
count of money paid the defendants
during the recent wheat panic.
The erection OF grain elevator, with
capacity of four hundred thousand
bushels, was begun June 1, 1886, and was
completed ON June Is, 1887. and yester-
day received in one of it's bins ten thou
sand bushels of grain. 1t stands beside
- - Al
pressure for storage since the wheat
clique began operations.
The officers of the American Exchange
National Bank say that the statement
is not true that they sequestered any
part of the deposits to Kershaw's credit.
and that his checks were paid to the full
amount of deposits. The hank was fully
protected as to all It's paevieus accounts
with Kershaw.